Stocks making the biggest moves midday: Ulta Beauty, Oracle, Slack & more

Finance

Scott Mlyn | CNBC

Check out the companies making headlines in midday trading. 

Ulta Beauty — Share of Ulta Beauty rose about 3% around midday, paring gains along with the broad market. The stock surged as much as 15% at its session high after the makeup retailer posted better-than-expected quarterly earnings. Ulta reported fourth-quarter profit of $3.89 per share, 16 cents above estimates, according to Refinitiv. However, its revenue was slightly below consensus.

Slack — Shares of Slack plunged more than 18% after the tech company released weaker-than-expected guidance for the first quarter on Thursday evening. The company, which some on Wall Street had viewed as a good bet during the coronavirus outbreak due to a rise in telecommuting, said it expected revenues between $185 million and $188 million for the first quarter. Analysts expected $188.4 million, according to FactSet.

Oracle — Oracle rose more than 13% in midday trading after the company reported fiscal third-quarter earnings and quarterly earnings guidance that topped what analysts had expected. CEO Safra Catz said on a Thursday conference call that she expects $1.20 to $1.28 in adjusted fiscal fourth-quarter profit per share. The midrange of her guidance, $1.24, was just over the $1.23 per share expected by analysts polled by Refinitiv.

H&R Block — The tax preparation company rose more than 10% on Friday after BTIG upgraded the stock to neutral from sell and said its recent decline makes it look fairly valued. Analyst Mark Palmer also noted H&R Block’s 6% dividend and healthy balance sheet as potential lures in an otherwise turbulent market. “We believe HRB’s share price is likely to be supported by the stock’s 6.6% dividend yield, and at a time when investors have been asking whether some companies will need to curtail their dividends we view the company’s quarterly dividend of $0.26 per share as relatively safe,” he wrote.

J.P. Morgan, Citi, Bank of America — Bank stocks posted big gains on Friday as Treasury rates rose and Federal Reserve gave further details on its liquidity package. Bank of America gained 8.3%, while Citi rose 6.3% and JPMorgan climbed 7.5%. Payments companies like American Express and Discover Financial were also outpacing the market, rising 4.3% and 5.3%, respectively.

— With reporting from CNBC’s Jesse Pound and Yun Li. 

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Products You May Like

Articles You May Like

Coronavirus loan program delayed for independent contractors and self-employed workers
Eight out of 10 financial advisors see markets diving lower, survey finds
WHO says there’s a global shortfall of 5.9 million nurses as world battles coronavirus pandemic
‘There’s a shortage of everything’: Pharmacies in New York City struggle to keep key medications stocked amid coronavirus outbreak
Walmart hires 100,000 to meet surging demand, as toilet paper and sewing machines fly off the shelves

Leave a Reply

Your email address will not be published. Required fields are marked *